Taaleritehdas joins in the development stage of Garden Helsinki project.

Garden Helsinki is a comprehensive real estate development project planned for Töölö, the most publicized part of which is the event arena that will function as, among other things, the home venue for Helsinki IFK.

Taaleritehtaan Kiinteistökehitysrahasto ky will become one of the financiers for the project.

Taaleritehdas has agreed to participate in the development stage of a comprehensive project called Garden Helsinki. Garden Helsinki is a comprehensive real estate development project in Töölö, Helsinki, to be realized with private funding. The project includes a street block area in Mäntymäki, Töölö, with a planned modern event arena, hotel, shopping center and parking services as well as apartments. The planned total extent of the project is approximately 120,000 m2 and the estimated costs roughly 400 million Euros.

The project complex will be located in a very central area in Helsinki city center, close to the premises of the Olympic Stadium. Taaleritehtaan Kiinteistökehitysrahasto ky will be one of the development stage financiers of Garden Helsinki project.

”Garden Helsinki represents a modern city center extension construction project, where the renewed street block area adds to the service supply of the area in an excellent way and creates new real-estate content to the city. In addition, the planned event arena with its services is a big step forward for the staging of major sports, entertainment and events in all of Finland” , the director of the Taaleritehtaan Kiinteistökehitysrahasto, Jouni Alho, says.

”We are delighted that Taaleritehdas has committed to the project, and we believe that this cooperation will strengthen the resolution of the process. In addition to financing, Taaleritehdas also brings forth a wide range of competence and experience to the further development of the project, which we deem highly beneficial”, says Timo Everi, chairman of the board of Projekti GH Oy.

Garden Helsinki project has an initial lot reservation from Helsinki City Board, and the project development stage is running. The estimated duration of the project development stage is 1 to 2 years and the duration of the construction stage will be roughly two years from approval of the land use plan and granting of the construction permit.